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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities:    
Net Income (Loss) $ 19,568 $ 15,968
Adjustments to reconcile net income to net cash from operating activities:    
(Reversal of) provision for credit losses 425 (225)
Depreciation 1,907 1,854
Amortization 7,263 7,495
Compensation expense on employee stock purchase plan, stock options, and restricted stock units 541 741
Net losses (gains) on sales of available for sale securities 0 71
Net change in market value of equity securities (241) 456
Gains on sales of loans (1,610) (1,479)
Loans originated for sale (48,171) (37,845)
Proceeds from loan sales 47,810 38,330
Earnings on bank-owned life insurance (919) (810)
Earnings on death benefit from bank-owned life insurance (196) 0
(Gains)/losses on sales of other real estate owned (17) 0
Proceeds from sales of other real estate owned 139 144
Deferred federal income tax (benefit)/expense 166 138
Net change in:    
Other assets (3,534) 4,443
Other liabilities 1,507 28,049
Net cash provided by operating activities 24,638 57,330
Cash flows from investing activities:    
Sales of equity securities 0 887
Maturities, prepayments and calls of securities available for sale 25,109 21,981
Maturities, prepayments and calls of securities held to maturity 16,710 10,218
Purchases of securities available for sale (1,116) (110)
Purchases of equity securities (70) 0
Purchases of securities held to maturity (2,000) (597)
Purchase of Federal Home Loan Bank stock (242) (4,849)
Proceeds from redemption of Federal Home Loan Bank stock 0 3,916
Loan originations and payments, net (94,121) (120,271)
Proceeds from bank owned life insurance death benefits claim 490 0
Additions to premises and equipment (1,047) (3,454)
Payments for derivative contracts settlements 0 (4,191)
Proceeds from (payments for) derivative contracts, net 0 382
Net cash provided by (used in) investing activities (56,287) (96,088)
Cash flows from financing activities:    
Net change in deposits 86,173 15,192
Net change in short term borrowings 10,109 130,000
Issuance of common stock 500 168
Share based compensation withholding obligation (220) 0
Cash dividends (6,502) (5,872)
Cash related to common stock offering 32,094 0
Net cash provided by financing activities 122,154 139,488
Net change in cash and cash equivalents 90,505 100,730
Beginning cash and cash equivalents 55,433 43,943
Ending cash and cash equivalents 145,938 144,673
Supplemental disclosures of cash flow information:    
Cash paid for interest 34,358 18,393
Cash paid for income taxes 4,450 3,900
Loans transferred to other real estate owned $ 529 $ 266